Re: {LONGTERMINVESTORS} News & Misc. items - Thread

Market Outlook:

• Indian markets are likely to open on a positive note and trade with a positive bias today.
• From Intraday perspective, Nifty likely to witness buying interest above 8310 for potential upside till 8336 / 8400 while selling pressure to emerge below 8242 for downside till 8130.

News Flow:

• Torrent Pharmaceuticals Ltd said it has inked a binding pact to acquire the Vizag API manufacturing unit of Glochem Industries Ltd along with few Drug Master Files (DMF) as going concern on slump sale basis.
• Gayatri Projects Ltd said that it has received a contract worth Rs 306 crores from the Ministry of Road Transport & Highways (NHDP-IVA Cell).
• Alembic Pharmaceuticals said the company's API facilities i.e. API I and API II both located at Panelav have been successfully inspected by the USFDA between June 20, 2016 and June 29, 2016. The company did not receive any form 483 observations.
• Coal India said that it has inked two agreements with Solar Energy Corporation of India for implementation of solar power project in Madhya Pradesh.
• Manappuram Finance Ltd said that it has raised Rs 40 crore through allotment of 400 non-convertible debentures (NCDs).

Stock Idea:

Recommendation: Buy Power Finance Corp Ltd

Suggested Range: Buy around INR 171

Target: INR 184 - 186

Holding Period: upto 10 days

Stop loss: INR 164 closing basis

Technical Rationale: Power Finance Corporation Ltd was in the process of retracing the previous rise from 140 to 184. It has found support around the 61.82% Fibonacci retracement level (156) of the rise and has resumed its uptrend. In Thursday's trading session it has witnessed a sharp rise breaking above the previous swing high which is a bullish sign for the stock. The daily momentum indicator RMO bears a positive crossover which is a buy signal. We expect the stock to trade with a positive bias and reach the resistance cluster of 184 – 186 where there is resistance in the form of a swing high and also the 40 day exponential moving average is placed.

On Fri, Jul 1, 2016 at 9:24 AM, Mehak Choksi <mehakchoksi@gmail.com> wrote:

 HDFC, SBI Life buy 18.5 percent in IDFC Infra Debt Fund: BS

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